Sudanese pound gains on the black market on the second day after the devaluation
The Sudanese pound strengthened against the dollar on the black market on Tuesday, two days after a steep devaluation, while the official price remained stable at 375, traders said.
A dollar went for 370 Sudanese pounds, they said, compared with 380 to 385 on Monday.
Aligning the official and black market rates is central to the success of the devaluation, a reform aimed at extracting Sudan from an economic crisis and gaining access to debt relief.
Parallel market trade had slowed to a halt since the devaluation, traders said, amid uncertainty over how the government would manage it. Some people visited banks to sell their dollars for the first time.
Al Jazar: A Minimalist Approach
On Al Jazar Street in al Riyadh Khartoum, under a large white sign spelling out the word “Al Jazar” in big bold black-lined red letters, is a great little take out for a delicious kufta sandwich. As the namesake explicates, the enterprise is a byproduct…